Premium

Bitcoin hits $10,000 milestone: but is it a solid investment or the next big asset bubble?

Bitcoin
Bitcoin has increased by 900pc this year Credit: Bloomberg

Bitcoin's price rose past $10,000 (£7,500) on Wednesday morning, a landmark point for the digital currency.

It took just three days between it passing $9,000 and $10,000, showing that the price of the currency is not merely increasing, but doing so at a faster rate.

Bitcoin jumped almost 9pc overnight to a high of $10,831.75, shrugging off fears the milestone could trigger a wave of selling and . It has now risen tenfold this year, appearing to defy claims that the currency is merely a conduit for online criminals.

It has been labelled a fraud and a bubble by high-profile figures in finance, including JP Morgan boss Jamie Dimon, but has attracted increasing interest outside the community of geeks and financial technology enthusiasts that have followed bitcoin since its introduction in 2009.

For most of its life, it has been worth just a few dollars, meaning some of those who became involved...

To continue reading this article

Start your free trial of Premium

  • Access all Premium articles 
  • Subscriber-only events 
  • Cancel any time

Free for 30 days

then only £2 per week

Access one Premium article per week

To continue reading this article log in to your Telegraph account. Or register now, it's free.
Registered customers can access one Premium article per week
HALF-PRICE OFFER
Unlimited access to exclusive stories.
Half price for one year.
  • Access all Premium articles
  • Subscriber only events
  • Cancel any time
Free for 30 days, then just £1 per week